East China Aluminum: Spot Fails to Rise Along with Futures -Shanghai Metals Market

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East China Aluminum: Spot Fails to Rise Along with Futures

SMM Insight 01:25:58PM Jun 28, 2012 Source:SMM

SHANGHAI, Jun. 28 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,400-15,430/mt on Thursday, and low-iron aluminum was traded between RMB 15,500-15,520/mt in Shanghai. SHFE current-month aluminum contract price rallied to RMB 15,400/mt, up RMB 200/mt, raising selling interest of cargo holders, but downstream buyers rarely inquired due to tight cash flows. Thus, spot aluminum prices did not rise along with SHFE aluminum prices, causing spot discounts expanding to RMB 30/mt. Trading remained light.

Key Words:  spot aluminum   aluminum price 

East China Aluminum: Spot Fails to Rise Along with Futures

SMM Insight 01:25:58PM Jun 28, 2012 Source:SMM

SHANGHAI, Jun. 28 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,400-15,430/mt on Thursday, and low-iron aluminum was traded between RMB 15,500-15,520/mt in Shanghai. SHFE current-month aluminum contract price rallied to RMB 15,400/mt, up RMB 200/mt, raising selling interest of cargo holders, but downstream buyers rarely inquired due to tight cash flows. Thus, spot aluminum prices did not rise along with SHFE aluminum prices, causing spot discounts expanding to RMB 30/mt. Trading remained light.

Key Words:  spot aluminum   aluminum price